Photo from ESR-LOGOS REIT.

ESR-LOGOS REIT acquires Japan-based logistics property

The acquisition fee is around $1.7m.

ESR-LOGOS REIT has completed the acquisition of a Japan-based logistics property, the ESR Sakura Distribution Centre through its wholly-owned ESR-LOGOS REIT TMK 1.

The acquisition fee for the distribution centre will be paid to the company’s manager in the form of ESR-LOGOS REIT units which should not be sold within a year from the issuance, the Manager ESR-LOGOS Funds Management said in a disclosure.

A total of 5,047,840 new units will be issued to the Manager for $0.3357 per unit for a total acquisition fee of around $1.7m.

ESR Sakura Distribution Centre is located in Ota, Sakura-shi, Chiba-ken.

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